Hey, That's My Idea !!

A Look At IP For Startups and Product Based Ventures

Startup Patents
Among the many potential sand traps for every entrepreneurial venture is that of protecting the intellectual property.  Patents are the first thing many product based IP holders think about, but patents are not the only tool.

On this page we will discuss patents and look at how they can become a resource consuming, disproportionally time sucking, wish.  Is that too harsh?  Well, we love patents, but if they are not right, they end up as a resource sucking waste of time.

Sorry, not meaning to mince words.

Potential Sand Trap #1 — INTELLECTUAL PROPERTY

You have the great new idea, so hey, you gotta protect it.  Gotta make sure no one steals it.  Right?

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Have you ever gone through the patenting process?  For many people, Patents are a big cloud of mysterious allure.  They're cool, for sure, and they certainly have their important place, but don't get sucked into thinking you must have a patent.  They are not the solution to everything - and they can be a HUGE consumer of precious, often scarce, resources.

As a reminder, the Definition of an Entrepreneurial Sand Trap:  Anything that consumes resources disproportionately.

Patents Are A Tool

I've seen many precious resources of early entrepreneurs wasted on patents.  Why would I say wasted?  Let's look at what it really is.  A patent is a tool, used to assist in IP (Intellectual Property) protection.  How?  Blatantly put, it gives you the right to take legal action.  That's it.

Here's the problem:  The government won't protect your idea.  Even with a patent, they will only help you enforce it, AFTER you get a court judgement.  Oh, and that can be really expensive.

Patents cost a lot of money to get, and the only thing they do (most of the time) is allow you to spend even more money enforcing them.  This is why we say A patent is only as good as your pockets are deep.

Timing For Patents

One other way patents can become a sand pit:  Starting the process too early.  In many cases, as you develop your product, the concepts mature and change.  They get better, which means you probably want to protect those better ideas too.  And that often means more patents . . .

Oops, but you don't want to repeat that time and expense again so the "revised" or "added" features of your original idea can be protected.

Double Oops!!  What if your first patent excludes getting another patent for the "Better" ideas you found in development?  Depending on timing, getting a patent too early can make you your own worst enemy.  Yes, Double OOPS!!

Starting the process too early can certainly lead to a huge waste in patents that would not happen if you wait until the product is ready for release.

Please don't misunderstand, I'm not at all against patents.  I have many of them myself.  But that's not the point.  The point is to use them as an appropriate tool, at the right time.

What Other Tools Are There?

Well, I still have to protect my idea.  So, What else can I do?

I invite you to explore the following possibilities.  Talk with your patent attorney about how they may apply in your situation.  They can be less expensive, less time-consuming, and can often buy you time or satisfy the need entirely:

  1. Provisional patents - give you a year to mature your ideas.
  2. Design patents - much less expensive, but protect differently. (Not for everyone.)
  3. Non-disclosure agreements - see below.
  4. Trademarks, Copyrights - depending on your need.
  5. Trade secrets - depending on how your IP is involved in your product.

Non-disclosure Agreements - NDA

These are somewhat misunderstood.  In essence, an NDA is a promise to respect each others contributions to something new. Of course, you have to share info about your product as you move through development. You can't do it all yourself.

But remember, anyone you would actually 'want' to talk to about your product, is not in the business of stealing ideas, or they wouldn't be in business very long. Use a Non-Disclosure Agreement (NDA) as a formal way of saying "Hey, this is my idea."

Secondly, I assert that the actual wording of the NDA is not so important.  Every attorney has their own NDA, and somehow every one of them is better than the others.  Don't let your attorney charge you a ton for one of these.  You can consider special allowances for your situation if you want, but if you choose your vendors and associations well, you'll never need to enforce it.  Use one, for sure, but don't let the NDA become a sand trap.

Avoiding the Sand Trap

As you move forward, get direction from those who have been down your part of the path.  Find a good attorney to consult with, THEN challenge their recommendations (to see if they are really right for you).  Don't waste your time with an attorney that does not seem to gel with you or with your product.

Most of all, trust people.  Choose your resources carefully, use an NDA, then trust them and keep moving.  If you find that IP starts consuming too many resources (money, time, worry, etc.) back off and re-evaluate.  Don't get stuck.

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